Arthur Rock facts for kids
Quick facts for kids
Arthur Rock
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Rock in 2003
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| Born | August 19, 1926 Rochester, New York, U.S.
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| Alma mater | Syracuse University (BA) Harvard University (MBA) |
| Occupation | Venture capitalist |
| Known for | Early investor in Intel and Apple Computer |
| Spouse(s) | Toni Rembe |
Arthur Rock, born on August 19, 1926, is an American businessman and investor. He is famous for being one of the first people to invest money in big technology companies. He worked in Silicon Valley, California, and helped start companies like Intel and Apple.
Contents
Early Life and Education
Arthur Rock grew up in Rochester, New York. He was an only child. His father owned a small candy store, and Arthur helped out there when he was young.
He joined the U.S. Army during World War II. However, the war ended before he was sent overseas. After the war, he went to college using the G.I. Bill. He earned a bachelor's degree in business from Syracuse University in 1948. Later, he got his MBA from Harvard Business School in 1951.
Starting a Career in Business
Arthur Rock began his career in 1951 in New York City. He worked as an analyst, studying different companies. Then, he joined a company called Hayden, Stone & Company. There, he helped small technology companies find money to grow.
In 1957, a group of eight scientists left a company called Shockley Semiconductor Laboratory. Arthur Rock helped them. He convinced a businessman named Sherman Fairchild to start a new company for them. This new company became Fairchild Semiconductor.
In 1961, Arthur Rock moved to California. He started his own investment firm with Thomas J. Davis Jr.. It was called Davis & Rock.
Investing in Big Tech Companies
Arthur Rock is known for helping to start some of the biggest technology companies.
Helping Intel Get Started
In 1968, two scientists from Fairchild Semiconductor, Robert Noyce and Gordon Moore, wanted to start a new company. They also brought in Andy Grove. Noyce called his friend Arthur Rock for help.
Arthur Rock explained how easy it was to get Intel started:
Bob [Noyce] just called me on the phone. We'd been friends for a long time.… Documents? There was practically nothing. Noyce's reputation was good enough. We put out a page-and-a-half little circular, but I'd raised the money even before people saw it.
Intel was officially started on July 18, 1968, in Mountain View, California. Robert Noyce and Gordon Moore were the main founders. Arthur Rock helped raise $2.5 million from investors in just one day. He also became Intel's first chairman.
Investing in Apple Computer
In 1978, Arthur Rock met Steve Jobs and Steve Wozniak through Mike Markkula of Apple Computer. Arthur Rock bought 640,000 shares of Apple Computer. He also became a director on the company's board for a long time.
Arthur Rock's investments and advice helped many companies grow. These include Intel, Apple, Scientific Data Systems, Teledyne, Xerox, and the Nasdaq Stock Market.
Understanding Venture Capital
Arthur Rock is often called one of the pioneers of Silicon Valley. He is also credited with making the term "venture capitalist" popular. A venture capitalist is someone who invests money in new companies that have a lot of potential to grow.
In the 1950s, it was a new and fast-growing business. Arthur Rock helped make it a well-known way to fund new businesses.
Rock's Law Explained
There is a concept called "Rock's law," sometimes called Moore's second law. It is named after Arthur Rock and Gordon Moore. This law says that the cost of building a factory to make computer chips doubles about every four years. By 2023, the cost had reached around $20 billion.
Rock's law is related to Moore's (first) law. Moore's law says that the number of tiny parts (transistors) on a computer chip doubles every two years. Rock's law shows the economic side of this growth. As computer chips get more advanced, the factories needed to make them become much more expensive.
Giving Back: Philanthropy
Arthur Rock has given a lot of money to help others. In 2003, he donated $25 million to Harvard Business School. This money helped create the Arthur Rock Center for Entrepreneurship. This center helps people learn how to start their own businesses.
He and his wife, Toni Rembe, also started the Arthur & Toni Rembe Rock Center for Corporate Governance at Stanford University. This center helps companies be run in a fair and responsible way.
Arthur Rock also helped start The Basic Fund. This fund gives scholarships to children in cities so they can go to private schools. He is also involved with Teach For America and the Children's Scholarship Fund. He supports KIPP, which runs schools for students in underserved communities.
He has also donated money to support education in politics. For example, he has supported school board elections across the country.
Awards and Recognition
Arthur Rock has received many awards for his work and his giving. Some of these include:
- 2007 Achievement in Business, Corporate, and Philanthropic Leadership from the American Academy of Arts and Sciences
- 2002 Business Leader of the Year from the Harvard Business School Association of Northern California
- 1999 Lifetime Achievement in Entrepreneurship & Innovation Award from the University of California
- 1997 Arents Award from Syracuse University
- 1995 California Business Hall of Fame
- 1989 Golden Plate Award from the American Academy of Achievement
Personal Life
Arthur Rock is married to Toni Rembe, who is a lawyer. They both support Teach For America, an organization that helps improve education. The organization even has an award named in their honor.
Arthur Rock was played by actor J. K. Simmons in the 2013 movie Jobs.
See also
- Triumph of the Nerds
